Friday, 25 January 2013

Make Setting Goals Your New Year’s Resolution

A key pillar of your Analytics reporting process should be
using goals to track how well your site is performing. It’s important, however,
to make sure that you have set up the right goals so that you’re getting the
fullest picture of how your site is working.

Macro and Micro Goals

Your ‘Macro’ goal is the key purpose of your website. If
you’re the owner of an ecommerce site your macro goal will be to sell products. You should already be tracking your macro conversions through conversion rate.

Obsessing over your conversion rate, however, won't grow your business. It’s too broad a goal and so doesn’t help you make
decisions about what to optimise. Tracking ‘micro’ goals will
help you break the customer journey down into manageable chunks that you can
optimise.

Email Sign Up

Micro goals are goals that don’t have revenue attached but
are good indicators of business growth.

The best example is email newsletter sign-up. Email
marketing is one of the most dependable revenue generators and so more email
addresses means more revenue. Tracking email sign-ups, therefore, is an
good indicator of future revenue.

Aside: If there is no
‘Thank You’ page for email sign-up you will have to set up Event Tracking in
Google Analytics. We can help you with Analytics Implementation or you can see more here.

Once you can track sign-up rate you can optimise your
sign-up process and design and see the results. Until you are tracking this,
you are flying blind with one of your key performance indicators.

Attaching a Cost to
Goals

Without attaching a value to individual goals you can’t
truly assess what impact the different elements of your sites are making.

To find out the value of an email address, for example, use
the following sum:

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